NQ stayed below 3480 key resistance and traded sideways between 3480 resistance and 3455 support. The trading range 3455 - 3480 will become very important on Friday.
First we must remember that Friday is usually a bullish day as short-sellers tends to close their position by going long. However, with such strong selling pressure NQ would need to clearly break and stay above 3480 resistance to trigger a strong short-covering rally.
Staying in between 3455 and 3480 implies more consolidation. 3455 is a very strong support for NQ. However, should it clearly break and stay below 3455 it should attract a lot of selling, next support is 3420 then 3400.
